DoubleLine Capital LP’s Total Return Bond Fund attracted the most money among U.S. mutual funds this year through June, according to estimates from Morningstar Inc. (MORN)
The Los Angeles-based firm’s fund received $11.5 billion, followed by Vanguard Group Inc.’s Total International Stock Index Fund, which won $8.9 billion, Chicago-based Morningstar said. Pacific Investment Management Co.’s Total Return Bond Fund, the world’s largest mutual fund, had the sixth biggest deposits with $5.9 billion.
DoubleLine Total Return Bond Fund (DBLTX), run by Chief Executive Officer Jeffrey Gundlach and Philip Barach, has returned 5 percent this year through yesterday’s close, beating 95 percent of similarly managed funds, according to data compiled by Bloomberg. The $28 billion fund has returned 9.3 percent over the past 12 months, ahead of 98 percent of rivals. It had invested 31 percent in non-agency residential mortgage backed securities as of June 30, according to DoubleLine’s website.
The numbers are for open-end mutual funds and exclude money markets and fund-of-funds. Investors put $106 billion into U.S. taxable bond funds this year through May, Morningstar said. Domestic stock funds had $34 billion in withdrawals during the same time period while international stock funds had deposits of $20 billion.
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